Welcome to our dedicated page for Evi Industries news (Ticker: EVI), a resource for investors and traders seeking the latest updates and insights on Evi Industries stock.
EVI Industries, Inc. (NYSE American: EVI) is a value-added distributor and service provider in the commercial laundry industry, and its news flow reflects this focus on equipment, services, and long-term growth. Company press releases frequently highlight record revenue and gross profit results, updates on its buy-and-build acquisition strategy, and commentary on demand trends across industrial, on-premise, vended, and multifamily laundry markets.
Investors following EVI news can expect regular updates on quarterly and annual financial performance, including revenue and margin trends and the use of non-GAAP measures such as adjusted EBITDA. The company often discusses how acquisitions and organic initiatives contribute to its growth, as well as how its balance sheet and revolving credit facility support continued investment in expansion and technology.
Another recurring theme in EVI’s news is strategic acquisitions of commercial laundry distributors and service providers, including transactions described as the largest in the company’s history. These announcements typically explain how new businesses expand EVI’s geographic presence, add experienced sales and service teams, and enhance relationships with OEM partners and distributor networks.
EVI also issues news about its technology initiatives, such as deployment of field service platforms, progress on ERP and business intelligence systems, and development of digital commerce and customer relationship management tools. In addition, the company announces participation in investor conferences, special cash dividends, and governance matters disclosed through SEC-related press releases. For readers and investors, the EVI news page provides a centralized view of how the company is executing its strategy in the North American commercial laundry distribution and service industry.
EVI Industries, Inc. (EVI) has successfully acquired Spynr, Inc., marking its 20th acquisition. Spynr is a marketing agency specializing in the commercial laundry sector, providing services like branding and digital marketing. Founded by Dennis Diaz, Spynr will continue to operate under its name and leadership, with Diaz also taking on the role of EVI's Director of Marketing. This acquisition aims to enhance EVI's marketing capabilities and support its long-term growth strategy focused on delivering comprehensive solutions across the laundry industry.
EVI Industries, Inc. (NYSE American: EVI) has officially acquired Laundry South, its 19th distributor of commercial laundry products, expanding its operations into Mississippi and enhancing its market share in eastern Louisiana. This acquisition aligns with EVI's strategy to build a comprehensive laundry solutions enterprise. EVI emphasizes retaining the existing leadership and culture of Laundry South while pursuing growth and innovation in the commercial laundry sector. CEO Henry M. Nahmad notes the strategic importance of this acquisition for the company’s long-term goals.
EVI Industries (AMEX:EVI) has announced a definitive agreement to acquire Clean Designs, a distributor of commercial laundry products based in Lakewood, CO. This acquisition adds to EVI's strong market position in the Western U.S. and marks its eighteenth commercial laundry business acquisition. The deal will enhance EVI’s product offerings and service capabilities, leveraging Clean Designs' experienced sales and service team. EVI aims to capitalize on growth opportunities while integrating Clean Designs as a subsidiary under its current management.
EVI Industries, Inc. (EVI) reported record results for the second quarter and first half of fiscal 2022, with revenues of $61 million and $124 million, representing 6% and 8% increases, respectively. Gross profit reached $17 million and $34 million, up 17% and 24%, with gross margins at a record 27.7%. Net income grew to $0.53 million and $2.5 million. EVI also maintained a robust backlog of $120 million and completed the acquisition of Consolidated Laundry Equipment. Despite supply chain challenges, the company remains optimistic about long-term growth and profitability, supported by a solid balance sheet and ample liquidity.
EVI Industries, Inc. (AMEX: EVI) announced the completion of its mergers with Consolidated Laundry Equipment and Central Equipment Company on February 7, 2022. This strategic acquisition expands EVI's footprint in the southeastern U.S., where it already operates multiple businesses. EVI’s Chairman, Henry M. Nahmad, highlighted CLE's loyal customer base and operational strength, suggesting the merger will create a leading commercial laundry operation in the region. This marks EVI's 17th acquisition as part of its buy-and-build growth strategy.
EVI Industries, Inc. (EVI) has announced a definitive agreement to acquire Consolidated Laundry Equipment and Central Equipment Company, strengthening its market position in the Southeast U.S. The acquisition is expected to enhance EVI's revenue, which has exceeded $90 million, and integrate CLE's $17 million in annual revenue from commercial laundry products and services. With a focus on growth and operational excellence, EVI continues its 'Buy and Build' strategy, having acquired 17 companies since October 2016. The deal is pending closing conditions and may not be finalized.
EVI Industries achieved record operating results for the first quarter of fiscal 2022, ending September 30, 2021. Revenue rose 10% to $64 million, with gross profit up 32% to $18 million, and net income increasing to $2 million from $0.52 million year-over-year. Adjusted EBITDA soared by 78% to $4.4 million. Continued demand for commercial laundry products, strategic pricing adjustments, and operational optimizations contributed to these gains, despite challenges from supply chain disruptions. The company remains focused on growth through acquisitions and technology investments.
EVI Industries, Inc. (NYSE American: EVI) announced that Chairman and CEO Henry M. Nahmad will host virtual meetings with registered investors during the Baird Global Industrial Conference on November 11, 2021. EVI focuses on long-term growth and shareholder value through a buy-and-build strategy, having acquired 15 commercial laundry distributors in the past 48 months. With operations across 17 states, EVI provides comprehensive laundry solutions, including planning, installation, and maintenance services, catering to various sectors in North America, Latin America, and the Caribbean.
EVI Industries reported record operating results for the fiscal year ending June 30, 2021. Fourth-quarter revenue rose 19% to $65 million, with a gross profit increase of 22% to $16.4 million and net income rising to $6.8 million from a loss of $0.1 million. For the fiscal year, revenue increased 3% to a record $242 million, gross profit increased 8% to $60 million, and net income soared 982% to $8.4 million. The company achieved significant balance sheet improvements, reducing net debt by 68%. EVI's acquisitions of two businesses bolstered operations despite ongoing supply chain challenges.
EVI Industries, Inc. (NYSE American: EVI) will participate in the Jefferies Virtual Industrials Conference on August 4, 2021, with one-on-one meetings hosted by Chairman and CEO Henry M. Nahmad.
The company specializes in commercial laundry operations, offering equipment sales, leasing, and advisory services. They support various sectors, including retail and government, through installation and maintenance services. EVI emphasizes its safe harbor for forward-looking statements, addressing potential risks related to business strategies and economic conditions.